Tankers ended 2021 on a downtrend and 2022 is so far no different.
Both crude and product tankers slipped again on Friday, with the Baltic Clean Tanker Index falling 48 points since Tuesday to reach 627. The Baltic Dirty Tanker Index slipped 17 points over the same period to 732, its lowest mark since mid-October.
In its weekly market round-up, the Baltic Exchange said on Friday that VLCCs started the year slow, while suezmaxes were static and aframaxes were a mixed bag.
"Activity is ticking over and rates have been relatively flat across the board," the shipping marketplace said of VLCCs, noting a Middle East Gulf to China voyage fell a point this week to Worldscale 37 on its 2022 basis.
On a time-charter equivalent basis, the Baltic Exchange said the voyage was earning a ship $760 per day.
A suezmax on a Nigeria-to-Europe voyage was assessed to be earning $1,600 per day on a TCE basis, while a voyage from the Black Sea to Augusta, Sicily, was worth $3,600 per day.
Aframaxes slipped in Europe but jumped in the Atlantic, with a US Gulf to Europe voyage jumping 16 points to WS 106, or $9,500 per day. Voyages from Covenas, Colombia, to the US Gulf rose nine points to WS 97.5, or $3,500 per day, while journeys from the east coast of Mexico to the US Gulf added 13 points to WS 100, or $5,600 per day.
For product tankers, the Baltic Exchange described the market as "settling out".
"Subsequently almost all markets and sizes have seen rates drop, although the magnitude of which has not been uniform," the exchange said.
In the Middle East Gulf, both LR2s and LR1s fell to WS 99, with a ship sailing from Ras Tanura to Yokohama earning $6,976 per day on a TCE basis following the 7 point dip.
LR1s on a similar voyage slipped 14.5 points and are assessed to be earning $4,126 per day.
The MR market saw tonnage lists put downward pressure on rates with Europe to the US Atlantic coast rates slipping by 4.72 points to WS 140. The Amsterdam to Lagos route slipped 5.36 points to WS 145.
